Asset finance for SMEs grows 12% in 2017
New figures released by the Finance & Leasing Association (FLA) show that asset finance grew in 2017, marking a seventh consecutive year of growth.
The asset finance industry reported a record level of new business, with almost £32 billion being lent in 2017. Of that near £32 billion, £18.6 billion went to SMEs, 12% more than 2016.
Geraldine Kelly, head of research and chief economist at the FLA, said: “The asset finance industry reported a record level of new business of almost £32 billion in 2017, despite challenging economic conditions and subdued business investment growth.
“The latest figures also reveal that asset finance is a vital source of funding for SMEs when investing in business equipment and machinery. Of the total asset finance new business in 2017, £18.6 billion went to SMEs – 12% higher than in 2016.”
With these trends set to continue in 2018, now could be the time to look for funding to take your business to the next step.
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